San Diego Law Firm Robbins Umeda LLP Announces an Investigation of Illumina, Inc.
Robbins Umeda has commenced an investigation into possible breaches of fiduciary duty and other violations of state law by members of the board of directors of Illumina, Inc. (NASDAQ: ILMN) relating to the proposed acquisition by Roche Holding AG. Concerned shareholders who would like more information about their rights and potential remedies can complete the form below and we will contact you directly. You can also contact attorney Gregory E. Del Gaizo at (800) 350-6003.
Robbins Umeda LLP is investigating whether Illumina’s Board is acting in its shareholders’ best interests concerning Roche’s recent offer to acquire the company. On January 25, 2011, Roche announced that it is proposing to acquire all outstanding shares of Illumina for $44.50 per share in cash through a tender offer. Although Roche claims it has made multiple efforts to engage Illumina, it states that the company has been unwilling to participate in substantive discussions. Robbins Umeda LLP’s investigation focuses on whether Illumina’s directors and officers are acting in the best interests of the company’s shareholders or in their own interests in maintaining their positions at the company.
Robbins Umeda LLP notes that a potentially appropriate course of conduct for Illumina shareholders is to file a class action against the company’s Board of Directors to attempt to ensure that it negotiates with Roche and other potential suitors in good faith and in a way meant to maximize shareholder value.
Robbins Umeda LLP is a nationally recognized leader in securities litigation and shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested.